Posted: Thursday, September 18, 2014
Excellent Financial Stewards
We are excellent financial stewards of taxpayer resources, with a low administrative cost of 1.35 cents per dollar. In fact, GCS spends 45% less on district program management than the state average for all South Carolina school districts.
The General Fund is commonly referred to as "the school district budget." General Fund dollars pay for teachers' and other employees' salaries, utilities, and supplies. Expenditures are in seven major categories: classroom instruction (65.2%), operations and maintenance (16.8%), school administration (7.5%), auxiliary support services (6.5%), transfers (3.5%), and district administration (0.5%).
The district maintains the highest credit ratings possible for SC school districts: AA+ from Standard and Poor's and Aa1 from Moody's. GCS has been recognized for Excellence in Financial Reporting by the Government Finance Officers Association (27 Consecutive Years) and the Association of School Business Officials International (18 Consecutive Years).